A Billion-Dollar Betrayal When Reuters revealed last week that Meta Platforms earns an estimated $16 billion per year from advertisements “clearly showing signs of being fraudulent,” it confirmed what EFRI warned about already in 2022: Europe’s Digital Services Act (DSA) does not protect victims of online fraud — it protects
Europe built fast, low-cost payment rails. Victims deceived into initiating payments are still left alone. Our paper, a contribution to the ongoing discussion, sets out a solution based on the experience we made during the past years: treat fraudulently induced payments as unauthorised, make reimbursement the default at the payer’s
Carter-Ruck, one of the UK’s most feared libel law firms, is facing disciplinary proceedings over its role in the £4 billion OneCoin scam. The Solicitors Regulation Authority alleges partner Claire Gill made an improper threat designed to silence criticism, raising serious questions about how elite law firms can become financial
Five Years of Silence: EFRI Demands DNB Report – for the Scam Victims and the StabIR License Review In September 2020, the Dutch financial supervisory authority, De Nederlandsche Bank (DNB), finalised a supervisory report on Payvision B.V. That report—according to official sources—confirmed serious and structural AML breaches, directly linked to
As digital payments surge across Britain, the UK has become Europe’s most advanced cashless society, processing more than 48 billion electronic payments in 2023 alone. But with this progress comes a sharp rise in “push payment” fraud (APP fraud), making robust consumer protection more vital than ever. The UK’s new
EFRI, a qualified entity under the Austrian Collective Redress Act (QEG), has been fighting online investment fraud across Europe. In this article, we expose Finleaks.com and Finleaks.media as a retaliatory defamation platform created by individuals connected to convicted cybercriminals. The site attacks EFRI and its leadership through false claims, personal
As representatives of EFRI, which advocates for over 1,600 victims of cybercriminals who made authorised card payments and bank transfers after being socially engineered by scammers, we write from direct experience with the devastating human cost of APP fraud. Many of these individuals lost their entire life savings and now
EFRI represents 65 victims in their claims for refunds from P2P GmbH, which are pending before the German prosecutor in Cologne. If you have also transferred money to this account and have not yet filed a claim, please get in touch. Background In 2018, the criminal syndicate led by Barak,
As legislative negotiations over the draft Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR) intensify, the debate over how — and to what extent — authorised payment fraud should be addressed through liability rules for payment service providers (PSPs) has gained urgency. (See, for example, the contribution by
The following text reflects EFRI’s account of events and EFRI’s opinions based on the documentation available to us Ethical Concerns Raised about BarentsKrans – EFRI’s perspective. BarentsKrans, one of the leading Dutch law firms, is facing growing criticism over its handling of the EFRI & Van Ruiten vs. Payvision /
